Secret Tech Play Has BIG Growth Potential
Technology spurs growth in every industry.
And I’ve found one groundbreaking example in an industry we don’t cover in these pages often.
But as things ramp up for this booming industry, it could hand you profits in the process…
After decades of decline, American oil production is hitting records again.
Last December, the U.S. became a net oil exporter for the first time in 75 years.
It’s a boom of historic proportions.
It wasn’t too long ago that they said it couldn’t be done. American oil production was in terminal decline.
But Then Something Happened…
American oil companies are now pulling oil out of the ground that was once thought to be trapped forever — at least at market prices.
It’s made a huge difference to the U.S., breaking its dependence on foreign oil and the OPEC cartel.
But it’s also creating fortunes for investors — all while creating thousands of high-paying jobs.
In places like the Permian Basin in Texas, oil companies can’t find enough workers, so they have to pay high wages.
And it’s spilling out to the local economy. In some oil boomtowns, a barber can make $180,000 per year.
But the truth is that the oil story is really a technology story. In the Permian, it’s all about oil trapped in shale. It never was easy oil to extract without better technology.
Inventions like fracking and horizontal drilling helped change all that, along with advances in computing and sensing technology to help find the oil and take it out.
Some of these technologies have been around for many decades. But it wasn’t until about 2008, with oil prices spiking to $160 per barrel, that it became practical to try to combine them in order to wring oil from the rock.
New Tech Offers You a Big Oil Payday!
Tech is leading the way when it comes to oil extraction and American oil independence.
And there’s an easy way to potentially score big profits off of America’s newfound dominance in oil and gas. That way is by grabbing a stake in the Invesco DWA Energy Momentum ETF (NASDAQ: PXI).
PXI is a great way to gain exposure to U.S. companies in the energy production and exploration spaces. After kicking off 2019 very strongly, PXI has taken a beating through Q2.
Turning to the chart, you can see how PXI is bouncing nicely off of very oversold levels right now, up over 7% in the past five days.
That said, with an implied open of $29 today, shares are still trading at a nice discount — as PXI is still trading roughly 11% down from its April high.
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily